Aviation Daily Roundup: July 1

July 01, 2020

Icelandair Group Restructuring Still Needs Lessor Support

Credit: Nigel Howarth/Aviation Week
Icelandair Group is still locked in financial restructuring talks with lessors, a credit card acquirer and Boeing, further-delaying its time line toward a share offering and government-backed loan.

Virgin Atlantic Making Progress On Recapitalization

Credit: Nigel Howarth / Aviation Week
UK-based Virgin Atlantic said July 1 that it was continuing to work on “a comprehensive, solvent recapitalization of the airline” to ensure it could continue to provide “essential connectivity and competition” for consumers and businesses.

Corsair Owner Offering Its 53% Stake To Investors, Chairman Says

Credit: Joe Pries
French airline Corsair is negotiating with potential new investors who could buy the entire 53% stake held by INTRO Aviation, the carrier’s majority owner.

Hong Kong Airport To Slap Airlines With Penalties For Transfer Mishandling

Credit: Hong Kong International Airport
Following cases of transit passengers being stranded at Hong Kong International Airport (HKG) as a result of mishandling by airlines, Airport Authority Hong Kong (AA) has introduced a series of penalties imposed on airlines should such cases occur again.

EasyJet Plans 700 Pilot Layoffs, Base Closures

Credit: easyJet
UK ULCC easyJet plans to make more than 700 pilots redundant and close three of its British bases as it downsizes in the face of the coronavirus crisis.

SAS Secures $1.5B In Shareholder Recapitalization Plan

Credit: Nigel Howarth / Aviation Week
Scandinavian Airlines (SAS) has secured a SEK14.25 billion ($1.5 billion) recapitalization, led by the Danish and Swedish governments along with third-largest shareholder the Knut and Alice Wallenberg Foundation.

DAE Has Now Received At Least 58 Lease-Deferral Requests

Credit: Dubai Aerospace Enterprise
Dubai Aerospace Enterprise has granted lease-payment deferrals to a further four customers and is evaluating another 28 requests, taking the total number of approaches to at least 58.

IATA Warns Its Recovery Forecast May Have Been Too Optimistic

Credit: Joe Pries
IATA warns that a recent rise in COVID-19 cases has already weakened bookings in the second half of June and could severely impact the expected recovery of air travel.

Ryanair To Operate 1,000 Daily Flights As European Activity Restarts

Credit: Rob Finlayson
Ryanair has resumed operating over 1,000 daily flights across Europe, about 40% of its normal July capacity, as it returned to flying July 1 following the COVID-19 crisis.

Aeromexico Files For Chapter 11 Bankruptcy Protection

Credit: Nigel Howarth / Aviation Week
Aeromexico became the latest Latin American airline to seek Chapter 11 bankruptcy protection in the U.S., as the region’s carriers struggle to remain solvent in the absence of federal government support.

Airbus’ Job Cuts Unacceptable, Say French Unions, Government

Credit: Airbus
Airbus’ announcement June 30 that it would cut 15,000 positions in response to the current crisis has caused an uproar in France, where 5,000 cuts are planned.

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